Cboe Global Markets Reports 7% Revenue Growth to $1.27 Billion in Q1 2026

Cboe Global Markets, Inc. reported a significant increase in financial performance for the first quarter of 2026, with total revenues reaching $1.27 billion, a 7% increase from $1.20 billion in the same period last year. The company's net income also saw a substantial rise, climbing to $385.7 million, compared to $250.6 million in the prior year, marking a 54% increase. This growth was primarily driven by a 13% increase in revenues from derivatives markets, which benefited from higher transaction and clearing fees due to increased trading volumes on Cboe's options exchanges.

In terms of operational metrics, Cboe's average daily volume (ADV) for options increased by 18% to 68.9 million contracts, while total matched shares on U.S. equity exchanges rose by 20%. The company also reported a 25% increase in matched average daily notional value (ADNV) for its European equities exchanges. However, revenues from cash and spot markets decreased by 4% to $482.2 million, largely due to a reduction in regulatory fees following a change in the Section 31 fee rate, which dropped to $0 per million dollars of covered sales.

Strategically, Cboe has been undergoing significant organizational changes, including the wind-down of its Japanese equities business and the initiation of a sales process for its Cboe Australia and Cboe Canada operations. On April 22, 2026, the company announced a definitive agreement to sell these businesses to TMX Group Limited for approximately $300 million, subject to regulatory approvals. Additionally, Cboe is implementing a strategic realignment that is expected to reduce its workforce by about 20%, with anticipated pre-tax restructuring charges of $36 million to $46 million.

Cboe's total assets increased to $11.07 billion as of March 31, 2026, up from $9.31 billion at the end of 2025, driven by a rise in cash and cash equivalents, which totaled $2.13 billion. The company also reported a significant increase in margin deposits, default fund, and interoperability fund, which rose to $3.44 billion from $1.62 billion. Looking ahead, Cboe expects to continue leveraging its strong cash position and operational efficiencies to navigate market conditions and pursue growth opportunities, while maintaining a focus on strategic acquisitions and investments.